British retailer Tesco is launching a chain of discount shops in the UK.

Named after the company's founder, Jack Cohen, 'Jack's' will offer food at "the lowest possible prices".

The shops will also have their own brand range, also named Jack's.

They will stock some familiar grocery brands, as well as a range of general merchandise on a 'when it's gone, it's gone' basis.

It is thought the retail giant is seeking a slice of the growth achieved by budget grocery stores Aldi and Lidl.

The launch is part of Tesco's centenary celebrations, which will see the business mark 100 years in Britain.

Image: Tesco PLC

The outlets will operate a low-cost business model "designed to keep costs low and prices down" Tesco says.

"It's a no fuss approach with a simplified range of products, no fancy fixtures or fittings, and no added extras, just good quality at low prices."

Dave Lewis, Tesco Group chief executive, said: "Jack Cohen championed value for customers and changed the face of British shopping.

"He's an inspiration for all of us and that same spirit still drives Tesco now."

Over the next six months, the company will launch up to 15 Jack's stores in the UK.

However Tesco Ireland said there are "currently no plans" for the discount stores to open in Ireland.